Hagatna, Bank Gives SBA Loan to Fire, Marine, And Casualty Insurance Company

Want to talk with a Hagatna, bank about a business loan? Here's one business loan, issued by a Hagatna bank, that was approved by the SBA.

Applying for an SBA loan with The Bank Of Guam worked out well for our friends at one local firm in Barrigada, . The business was able to get an SBA loan for $150,000. Sweet!

SBA Loan Borrower

COMPANY TYPE: FIRE, MARINE, AND CASUALTY INSURANCE
BARRIGADA, GU 96921

SBA Loan Lender

THE BANK OF GUAM
111 CHALAN SANTO PAPA
HAGATNA, GU 96910

This lender issued this particular SBA bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

6331 - Fire, Marine, and Casualty Insurance

Loan Approval Date

4/19/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

504 Loans